Sigma Planning Corp Grows Stock Position in Permian Resources Co. (NYSE:PR)

Sigma Planning Corp increased its holdings in shares of Permian Resources Co. (NYSE:PR) by 22.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,241 shares of the company’s stock after buying an additional 5,020 shares during the quarter. Sigma Planning Corp’s holdings in Permian Resources were worth $392,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Principal Securities Inc. lifted its position in Permian Resources by 73.6% during the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock worth $29,000 after buying an additional 852 shares during the period. ORG Wealth Partners LLC acquired a new stake in Permian Resources during the fourth quarter worth about $31,000. Global Retirement Partners LLC increased its stake in Permian Resources by 98.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock worth $36,000 after acquiring an additional 1,232 shares during the last quarter. Sunbelt Securities Inc. increased its stake in Permian Resources by 33.4% during the third quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock worth $43,000 after acquiring an additional 800 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in Permian Resources by 399.5% during the third quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after acquiring an additional 2,629 shares during the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Permian Resources Trading Up 0.1 %

Shares of PR opened at $14.04 on Friday. The company has a market capitalization of $11.28 billion, a P/E ratio of 8.51, a P/E/G ratio of 4.05 and a beta of 4.28. Permian Resources Co. has a one year low of $12.62 and a one year high of $18.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a 50-day moving average price of $14.69 and a 200 day moving average price of $14.47.

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend is Monday, March 17th. Permian Resources’s dividend payout ratio is currently 36.36%.

Insider Activity at Permian Resources

In related news, CFO Guy M. Oliphint sold 8,761 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $15.30, for a total value of $134,043.30. Following the completion of the transaction, the chief financial officer now owns 134,617 shares of the company’s stock, valued at approximately $2,059,640.10. This represents a 6.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 12.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Truist Financial upped their price target on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Morgan Stanley assumed coverage on Permian Resources in a research note on Friday, January 10th. They set an “overweight” rating and a $19.00 price target for the company. Finally, Piper Sandler upped their price target on Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $19.13.

About Permian Resources

Permian Resources Corporation, an independent oil and natural gas company, focuses on the development of crude oil and related liquids-rich natural gas reserves in the United States. The company’s assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks in West Texas, Eddy County, Lea County, and New Mexico.